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Mutual Fund Corner: Should I move my UTI ULIP or withdraw completely?

Want to invest in mutual funds but don’t know how to go about it? Get all your mutual fund related queries answered by our expert, Harshvardhan Roongta, chief financial planner, Roongta Securties, on our show Mutual Fund Corner.

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By CNBC-TV18 Dec 4, 2018 3:21:27 PM IST (Published)

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Mutual Fund Corner: Should I move my UTI ULIP or withdraw completely?
Want to invest in mutual funds but don’t know how to go about it?

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Get all your mutual fund related queries answered by our expert, Harshvardhan Roongta, chief financial planner, Roongta Securties, on our show Mutual Fund Corner.

Q: 37-year-old Abhishek Jain writes us from Bengaluru. I have two investment related queries.
1) My UTI ULIP is going to mature in 2020, but I can’t see good return from it. Is it fine to switch my all units from UTI ULIP to Midcap Fund or UTI Equity Multicap Fund? Will it be a wiseful move or should I withdraw it completely and later invest in lump sum/SIP considering the fact that I am beginner in mutual fund sector and can invest from 5-10 years of time with moderate risk.
2) Selected Aditya Birla 96 (ELSS), Quantum Long Term Fund (large cap) and Parag Parikh Multi Cap Fund by doing my own research. Kindly review it and will start investing from next financial year for the retirement objective and investment horizon is for 5-10 years. For 
A: 1> If I were you, I would withdraw and draw up a plan to invest the money as per my needs and split this money across different fund houses. When you have about 40 asset management companies (AMC) offering you their services, why not diversify with them.
2> Invest in Aditya Birla Tax Relief '96 (ELSS), IDFC Nifty Fund, ICICI Value Discovery Fund and Parag Parikh Long Term Equity Fund.
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Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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